EU stock exchanges in chiaroscuro amid Iran uncertainty and tech fears, Milan -0.6%
Bond turmoil continued with US yields at their highest in over a year. In Milan, sales on technology and oil with the price of crude oil falling. Brent crude still remains above 100 dollars a barrel
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(Il Sole 24 Ore Radiocor) - European stock exchanges slowed at the close in the wake of Wall Street's red trend, with the main indices closing in the clear. The sales on technology and semiconductor stocks and the rising bond yields, with the US 10-year yield hitting its highest level in 15 months, weighed heavily.
The market also continues to watch developments in Iran, with the United States reportedly giving Tehran 'two to three days' or at least 'a limited period of time' to return to the negotiating table and reach an agreement, according to US President Donald Trump. Meanwhile, NATO is considering the possibility of a mission to facilitate the passage of ships through the Strait of Hormuz if it is not reopened by early July.
Thus, the Milan Ftse Mib, lagging behind the other European indices from the outset, ended down 0.65%. Also below par were the Ibex in Madrid (-0.38%) and the Cac in Paris (-0.07%), while the Dax in Frankfurt (+0.5%), thanks to the rise of Sap (+6.7%), the Aex in Amsterdam (+0.31%) and the Ftse 100 in London (+0.1%) held up.
Wall Street down, chips still under pressure
Negative closing for the US stock exchange. On Wall Street, the Dow Jones index fell 0.65%, while the Nasdaq dropped 0.84% and the S&P 500 closed at -0.64%. A wave ofsales continued on the stocks of semiconductor manufacturers, which fuelled the bullish artificial intelligence market. Traders then follow the oil market, after US President Donald Trump cancelled planned attacks on Iran, and b>bond yields, which remain near multi-year highs, threatening to put further pressure on US consumers.
The stock of Micron Technology is currently avoiding its fourth consecutive day of declines due to fears about an artificial intelligence 'bubble', particularly in the memory chip sector; Micron has, however, gained more than 138% this year. Nvidia Corp , which will release its fiscal first quarter results after the markets close on Wednesday, 20 May, is still moving weak.
